Stacy Summary: We interview Bill Still.
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ref. max keiser – Get 6 mo’s free storage
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Rick Ackerman-
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- Karl Denninger – Market Ticker
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fiat money and the french revolution
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crash banksters – Buy Silver & gold
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looking forward tothis one
Stacy and Max brilliance so far
@max/stacy
wooo hooo…. on the pipe….. yee haaa….. huff that french glue…. yeah baby
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Bill Still… finally
@stacy herbert
I Hate to say it Stacy and don’t shoot me for it, but I humbly suggest, you need some new threads.
Good show though, I am still waiting for the big silver & gold sell off to come to an end.. been waiting long enough already.
Quote stuffing should be made illegal.
Good show!
@Nuller – I hate to say it and don’t shoot me for it, but I humbly suggest, you need to get your ass over to Fox News and stop hanging out here. We’re obviously way beyond your intelligence level. Thanks for your visit here though.
Anyone else wish to be put on blacklist by obsessing over clothing? You’re welcome to make yourself known here. I will send your contact details to Fox News to let them know they have ideal target audience member accidentally lurking on our site.
Interesting stuff on Fort Knox.
I see his point on fiat versus gold standard. I think there will always be trends either way depending on the stste of affairs but the current system is completely preposterous. either way there will be instabilities creating Gresham dynamics where people flock one way or another.
Australia has APRA to regulate banks at the RBA discount window from other speculative investment banks. While it’s still a predatory monetary system it seems to work better than the abominations going on in UK and US.
When it comes to all these issues it is quite easy to spot the ongoing fraud because there is no interest in looking at things that actually work in other countries. It’s all just furthering agendas ad infinitum.
I’ve got a hankerin’ for a kaiser roll and some sherbet. Mmm mmm.
Max and Stacy many Kudos for making this happen, i understand bill had some reservations ab out appearing on a “communist propaganda” tv channel , so props for making this happen, good work !!!!!
Were still waiting for the herbet vs monckton faceoff, possible on the AJ show ?
@johnypage – hey, we aim to please. We let the man have his say as well. I’m sure @F.Beard will love this interview, too!
Greenland
http://www.youtube.com/watch?v=PhBX9ggw5m0&feature=feedu
Dominatrix & George Osborne
http://www.youtube.com/watch?v=2pmXpU0_Cs4&feature=relmfu
Great to see Bill Still back …. great guy.
Delta One trading desk, we are go for lift off:
http://www.youtube.com/watch?v=Tg-uLrGmjkg
About time that you interviewed Bill Still. Long overdue but worth the wait.
I wonder if Bill has spoken to Ron Paul.
I don’t mind either solution as long that it stops the fractional reserve banking.
And eliminate gov’t from borrowing and over burdening the public with taxes.
Great KR. Fascinating stuff listening to Bill Still: upbeat and stuffed with advice on how the people can get back control of their countries! Max and Stacy’s analysis of the banking ponzi system was brilliant as usual. I am shaking my head with disbelief when I think of the crock of merde peddled by the MSM.
If I were speaker of the house in 2008 I would have had Hank Paulson arrested on the spot and I would have ordered the treasury to provide any liquidity that the nation’s businesses needed for their operations. Then you would have seen banksters jumping out of windows to escape the police who would have been coming to arrest their larcinous azzes.
Sfing Sfing? I looked that up in Oxford D,Wiki…etc
don’t know what it is but sure sounded like it might
hurt. You can’t help liking Mr Still but the only thing
that scares me more than banks creating 100% of
the money supply is Govt creating 100% of money
supply. I do think Mr Beard will love this agreed
and lets face it in a perfect world the ideas have
merit. Does Mike Maloney have any of those
trillion dollar Zimbabwe notes left?
stacyherbert | ” get your ass over to fox”… lamo/.///
@ @F.Beard .. This was a great backing to al you having been going on about., But abraham was still balling his sister so dont get all biblish on me .
@Max&stacyherbert |
Great show, top 5 in my list of your shows.
NB: there is a lot of high level analysis flying around during the Stacy segment. It pays to replay that segment just to get the gist. Mind you, same must be said for the interview sections.
KR reminds me of a brilliant R4 programme called “In Our Time”. We have access to the leading thinkers and pundits within the financial world thanks to Max and Stacy. And it is this financial world that really matters in the world of politics.
I am off to rewind.
Max, on naked shorting Silvercorp shares, you have to borrow the shares on the TSX before shorting, the short positions have increased exponentially and are listed.
You naked short shares on the Venture exchange.
brilliant. period
Great show maxkeiser & stacyherbert
In Australia you cant just walk away from your mortgage. Cant just send the keys to the Bank. The debt stays with you.
Psychopaths terrorists whatever!! I am sure that these people who exist to grab money would be diagnosed and in special homes if the behaved in such an obsessive and compulsive way, (lack of empathy). I have decided they are mentally ill and need to be treated by the vast pharmaceutical conglomerates they have helped to create.
Gold 1570.28 US$ per oz SDR
Nice interview with Bill Still. The Nth Dakota Bank is worth studying, but you should have more of them. Not too many. There are also other forms of banking like building societies etc.
Flooding the world with US$ will kill the currency. No doubt. they will become worthless.
Stop the harikiri 38 seconds
http://www.youtube.com/watch?v=bfPhIe5F_68
It was great listening to Bill Still point out that the Fed is not a part of government but a pawn of the Corporations. So talking of revolving doors over here in UK, I am waiting to see if this former employee of the FSA will end up working in for the banksters. One Alexander “JJ” Justham…
http://derivative-news.fincad.com/derivatives-news/head-of-markets-division-at-financial-services-authority-resigns-1465/
In Norn Iron (technically a part of the UK in spite of our best wishes
) the Assembly here has handed oversight of the Credit Unions to the FSA. I am just wondering if this is the start of a process that will end up with the banksters getting their hands on the Credit Union money.
Bill Still…. He became old but speaks wit the same passion like in the past. I think, all of you remember him in this documentary:
“The money masters”
http://www.youtube.com/watch?v=JXt1cayx0hs
worth to watch it again
Baby steps first Bill. You have to force their hands (the money controllers) first. Thats what Ron Paul is about. What you are stating is the answer. That’s where we need to get to. It’s easy to say but there is literally a lot of blood spilt getting there.
Gold is money and a good investment. But fractional lending is not prevented by gold, of course.
Fractional lending is only prevented by governments with integrity, which we haven’t got.
great discussion – just the Stacy half! It is simply impossible to overstate the pure evil intent of the LOAN SHARKING, DEBT EXTORTION, CASINO GULAG, INTENTIONALLY ECONOMIES WRECKING, slave labor, dehumanizing web-of-debt cartel
(which, as John Perkins explained, “economic hit man” style, SEEKS to first ENTICE nations into debt (usually through BRIBERY of a handful of officials & press/media players) then TRIGGERS DEFAULT (usually with balloning debt terms) then forces FORECLOSURE AUCTIONS of that nation’s real, productive assets, which the international bankers send their “jackals” to BUY UP for PENNIES on the dollar of their real worth… and then jack up MONOPOLY PRICES that local peon consumers MUST now pay to now ‘PRIVATIZED’ utilities for water, electricity, food, health care, and other essential commodities.)
It is also almost impossible to overstate the DEPTH and BREADTH of the CAPTURE by the debt cartel of our ENTIRE information system: Colleges, universities, the press & media, political parties, the k-12 public education system; almost EVERY president going back to at least 1913 (including so-called “liberal progressive” Woodrow Wilson, who signed the Fed Reserve bill into law) – ALL the above are participants in the WHITEWASH of the criminal nature of the fiat money debt extortion cartel….
@Ian James: How do you squeeze a family of trillionaires into a corner? I think you know which family we’re talking about here…
U.S. housing starts fall 5% in August to 571,000
Question for debate: Could the President of the United States just say no the a Rothschild?
I think we all know the answer to that one!
(cf Dallas Nov 23 1963)
p.s. – what is confusing about the fiat money (fed) debt extortion cartel, is that it CAN operate productively WHEN IT HAS TO.
The 2 main examples, #1. funding the “arsenal of democracy” explosion of industrial production for usa & allies during WWII; and #2. the similar titanic expansion of post-war “Cold War” technology & military production, 10,000 nuclear warheads researched, designed, produced, and deployed along with missiles, bombers, and submarines to deliver them, in the 2 short decades after WWII.
Those were of course THE years of “THE AMERICAN CENTURY” which also saw a booming civilian economy, rising wages & worker benefits (health care & acess to higher education) and increasing civil rights.
Like any good propaganda, the Fed apologists TAKE CREDIT for THE GOOD, and (speaking of “Cold War,” Mission Impossible style!) “DISAVOW ANY KNOWLEDGE” of the bad…
Good show!!
@ Ian James
Whatever furthers the cause is good.
順 手 牽 羊
While carrying out your plans be flexible enough to take advantage of any opportunity that presents itself, however small, and avail yourself of any profit, however slight.
Great episode. It’s good to see Bill Still. Regarding the honest money issue, I don’t believe it’s really an either or matter. You can have different currencies and they could benefit each other. The main problem with token money is that this system would only appear after the existing debt based system collapsed. This would mean that there would be an across the board total lack of confidence in another paper system. It would be difficult to establish not because it wasn’t a sound idea but because of mass financial trauma.
This would mean that you would probably go to PMs as a commodity money as an interim stage. Token systems could then be introduced on a regional scale. Some would last and others wouldn’t but the successful models will be replicated. The basic requirement of the token systems is very good prudent management as they are competing with a commodity money.
It’s also going to take time to educate people about how money works. Without this, it’s not really possible for a layman user to make a judgment on a token system.
Bill Still actually makes an error about what Ron Paul advocates. When Ron Paul talks about only gold and silver as money in the US constitution, he is talking about state level money and not federal. This means as a commodity money operated on a state basis it’s a competing commodity money. The reason this is in the constitution was because prior to that you had all sorts of different systems used regionally which invariably collapsed due to too much issuance or bad management and abuse. Whenever this happened, the public switched back into gold and silver but obviously some people got burned.
By limiting states to only gold and silver as money they were really trying to stop unsound systems which could collapse and ruin communities. Some of these systems were just ponzi schemes but many were honest. The reason they didn’t last was the same reason you would have problems today. Not enough of the users understood the principle of honest money and sound banking. Without this education, they couldn’t make a sound judgment so a system could collapse just by someone starting a rumour (Yelling fire in a crowded theatre). Also, the issuers who where well meaning, didn’t have monetary theory correct leading to management failures.
Whoever runs an honest money system, it can always be judged by the appearance of deflation of inflation. If the supply of token money can be skilfully managed to reflect the availability and demand for available goods and services it will be stable. This is not as easy as it sounds and takes really good management.
S&P downgrades Italy one notch to A
Dammit. This is a great discussion but I gotta go get ready for babysitting the niece. I will bore her with the fairytale about “The Banker Who Stole The Kingdom”
is individual participation in government preferable
to debt slavery in a global gulag? is this the question?
is self governance preferable to fascism? it is in the “money”.
Excellent stuff.
The section from Max from around 9.10 on is hilarious!
Dead right too
Gold inclusion as Tier 1 asset would be huge: LBMA
Great show, Great guest.
Thanks for having Bill Still on. He has some interesting ideas on the concepts of money and currency. I think perhaps that using non-gold non-silver money isn’t the problem, it’s the generally circulated currency. Tally sticks lasted as a working system of account for hundreds of years, but they weren’t generally-circulated currency, they were kept in the hands of government entities. To call tally sticks currency would be the same as calling an Excel spreadsheet that the IRS maintains currency. Bill Still seems to think that because tally sticks worked for England for hundreds of years that a generally-circulated currency with a carrier of no intrinsic value would as well, given the correct conditions of a usury-free environment. I don’t think it’s that simple. You should make him watch your Assignat documentary, Max. When the currency gets too abstract, it becomes easier to debase. It took Romans hundreds of years of boiling the frog with the Denarius by reducing its silver content and its size slowly and gradually to succeed in destroying their monetary system. Currency with paper as the carrier takes much less time than that. But WTF do I know? I just work with computers all day.
@ Youri Karma
If the Bans wont play our game, ie Capitalism, the we just bypass them. Avoid using currncy wherever possible. Open Source style, if ya know what I mean.
It is possible for us to create an alternate system, without copyright™ this is why bitcoin is so interesting.
Danske Bank warns Denmark may face credit squeeze
Max!
You’ve just been taken to school by the hand!
enjoy your lesson cheers!
This would have been a “perfect 10″ interview if Bill Still had also mentioned that besides removing the weapon of monetary control that has governments captive by the big banks, that we need to remove campaign contributions from corporations from the political process. The bribery that tends to corrupt the political system also needs to stop.
The insane oligarchs use BOTH money power control and bribery to increase their control and power. People who understand all this realize the rule of law has broken down and
the social contract is no longer valid. The solution then is not going to come from the political process, but by revolution. Destroy the insane oligarchs. There is no alternative unless people want to be debt slaves. If they can find the courage to be free, their children will sing praise to them from far into the future. But if not, the people living today will be cursed for eternity.
Great work on getting Mr. Still on your show!
re: Sherberts wardrobe debate- Seriously, is that all you can come here and discuss? Unless you are suffering some form of synesthesia then what a person wears should have no impact on your ability to listen to what they have to say.
WTF! BANKSTER TERRORIST THREATENS TO BLOW UP THE ECONNOMY BY STOP LENDING TO EVEN HEALTY AND SOLID PROJECTS!
“Head of Danske Bank’s domestic operations Tonny Thierry Andersen told financial daily Boersen that Danish banks may be forced to significantly scale back lending, also to healthy and solid projects , if funding costs continue to rise.”
Good work M&S … nicely explained.
BTW :
Uranium ( & Cadmium ) in Drinking water and nobody says anything
Uran im Trinkwasser und keiner sagt was
English Xlate :
http://translate.google.com/translate?sl=de&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.theintelligence.de%2Findex.php%2Fwissenschaft%2Fgesundheit%2F3266-uran-im-trinkwasser-und-keiner-sagt-was.html
Original link :
http://www.theintelligence.de/index.php/wissenschaft/gesundheit/3266-uran-im-trinkwasser-und-keiner-sagt-was.html
I can’t see any way the banks will let go and I don’t see the American People up for the fight.
If indeed those who hold the most gold wins, like John Paulson, we’re all still screwed.
I have to admit, when Greenspan said gold is money over what Bernanke said, that scared me. It made me think that he and his ilk have enough of the gold to keep control over the money supply and the economy.
Unless people in the US revolt, and in no small way, then secession becomes a very viable alternative.
So I beseech Max and Stacy – like all the people investing and preparing for the collapse by holding physical gold and sliver, for all those stocking up on food and other survival gear please help us to think about the alternatives to governing.
Please give voice to the session movements in the US.
22 states have legislation sitting on the table.
Please play this card for reform.
Please interview Thomas Naylor from Vermont.
I’m not talking about militiamen or hard core to the right libertarians, but a man from a this nation’s most liberal haven. The only state in the union that passed universal heath care.
Please open this door and just look around.
knowledge is power
PS@Uranium ( & Cadmium ) in Drinking water and nobody says anything
FWIW
PS: neither Fukushima nor Chernobyl mentioned … strange
@Stacy
Great outfit today. Very stylish ‘Cattish’ sort of with a wink to the 30ties I think …
Government control of gold bullion may be coming sooner than we think.
http://www.goldworth.com/townhall.html
OT- Great video coverage of “Days Of Rage” Occupy Wall St.(5:32), by TRNN, The Real News Network. http://www.therealnews.com
http://tinyurl.com/3hh5kzb
Please pass it on.
Best,
Bob Armstrong
The Bleeding Cure… By PAUL KRUGMAN
Published: September 18, 2011
http://www.nytimes.com/2011/09/19/opinion/economic-bleeding-cure.html?_r=3&src=recg
So if Bleeding the patient doesn’t help, I’m sure Pumping more blood won’t either !
Bill Still, a great man. Seen the films must read the book.
BBBB Baby Face Ben Bernanke lOlz! BBhttp://www.youtube.com/watch?v=5Fhxvswgodg
IMF economist: ECB may want to cut rates
Great show. Really enjoying the change in tone with Stacey getting off the fence and giving Max a run for his money. Not that she was ever really on the fence but you know what I mean.
IMF slashes world economic growth outlook – Big reduction in growth estimates
Krugman is the reason aliens dont come here,
they dont want to risk being infected with whatever he’s got.
hmmmmmmmmm,
@snoop diddy
And time travellers are banned from coming to the 20th and 21st century because of our appalling human rights record.
They won’t tell you this shit on main stream news.
http://www.brasschecktv.com/videos/war-is-a-racket/israel-and-the-upcoming-nuclear-war-.html
Great energy! Excellent interview!
The European banks are printing dollars? There’s no way they will contain the dollar. It appears as if hyperinflation is a certainty.
No gold in fort knox – go figure.
I like the idea of the monetary reform act. Ron Paul has a great deal invested in gold and it is to his benefit that he pushes ‘constitutional money’. I do think that no flexibility in the money would make it difficult to weather disasters.
How is what Still suggesting related to Social Credit and JAK banks? I really like the idea of getting rid of the speculative banks and returning money to people.
China Bank Halts Forex Swaps wWith European Banks Including Societe Generale SA, BNP Paribas SA and UBS AG!
Bill, will you be going to:
http://www.monetary.org/
The 7th Annual AMI Conference will be held at University Center, in Chicago, Sept. 29 – Oct. 2, 2011. The deadline for early registration is soon! We continue to confirm additional speakers for this year’s conference.
……..
What do you think of the following which Governor Brown ought to also look at:
http://www.monetary.org/american-money-scene-5-august-16-2009/2009/08
Why States Going into the Banking Business Would be a Distraction, not a Solution to their Fiscal Problem
by Jamie Walton, AMI researcher
“We may not be able to stop them, but we can join them. We the people need to play the bankers’ game ourselves.”1 – that was written by one of the promoters of the notion that the state governments should go into the fractional reserve banking business to beat Wall Street at its own game and solve their fiscal problems.
snip
So what is the solution?
It’s the monetary system which must be changed to end the fiscal crisis, and State governments cannot do this – it’s a matter for the Federal Government.
Under present constitutional and legal conventions, the only institutions that can create money without debt are national treasuries and/or central banks. State governments within a federal nation cannot do this – the problem can only be solved at the national level.
snip
We have a big problem in our economy and society today: too much debt. Banking cannot solve this problem because banking produces debt, which is the problem. It’s incredible that even now the delusion of borrowing ourselves out of debt is still seen as a solution, by anyone, let alone so-called reformers. We’re in a deep hole because we listened to cheerleaders yelling “keep on digging” without thinking. We cannot afford to keep doing this any more.
Proposing to get governments involved in banking is the complete opposite of a solution, because it keeps the problem in place.
As American Monetary Institute Chapter Leader, Dick Distelhorst, says:
“We don’t want to put the government into the banking business – we want to get the banks out of the money creation business!” – Dick Distelhorst
The correct solution to the crisis was presented in Stephen Zarlenga’s speech at the U.S. Treasury in December, 2003, titled “Solution to the States’ fiscal crisis” (read it at http://www.monetary.org). That solution has become the proposed American Monetary Act.
snip
Historical experience has taught us what we need to do:
1. Put the Federal Reserve System into the U.S. Treasury.
2. Stop the banking system creating any part of the money supply.
3. Create new money as needed by spending it on public infrastructure, including human infrastructure, e.g. education and health care.
These 3 elements must all be done together, and are all in draft legislative form as the proposed American Monetary Act (read it here: http://www.monetary.org/amacolorpamphlet.pdf).
The correct action is for Congress to fulfil its constitutional responsibilities to furnish the nation with its money by making the American Monetary Act law.
The correct action for the States is to insist on this Federal action!
Genuine monetary reform is the solution to the nation’s fiscal problems, and that can only be achieved at the national level.
snip
Jamie R. Walton
……..
http://www.suite101.com/news/occupy-wall-street-roseanne-to-be-president-a389507
Occupy Wall Street: Roseanne to be President?
Roseanne Barr has addressed demonstrators in New York, declaring her support for Occupy Wall Street and confirming that she is really running for president.
@Stacy – Those traffic triangles are important for safety.
Full reserve banking organisation in the UK.
http://positivemoney.org.uk
Unfortunately, not taken seriously by the UK banking reform commission.
German Sept. ZEW investor sentiment index falls
@ max and stacy
great show. good to see somebody interviewed with solutions and understanding that gold backed money is not the answer. wish he had been on longer to really walk through in detail how it would work. get him back on, or get others on who can elaborate on this. Time is running short and we need solutions if we are to have a revolution that works this time
@snoop diddy …. “Krugman is the reason aliens dont come here,”
ROTFLMAO … LOL.
Great guest, Bill Still. He made some excellent points. Thanks!
@ max and stacy
one more thing can you hook Bill up with the Occupy wall street protests. they need someone like him at this critical moment to explain what is going on, how the banksters are robbing us, and what we can do. Very critical time and his help is needed.
The Best Guest, Guessed Best.
Sad but true, there are two options, guv by the peeps, or surfdom.
Guv by the peeps, may very well beyond our grasp at this time, and if not, the pain of establishing it may create severe buyers remorse. In other words, we may now have come to the happy serf state of bread&circusville.
Here’s the Silvercorp CEO.
http://www.bnn.ca/News/2011/9/15/Silvercorp-CEO-calls-allegations-criminal.aspx
Short selling is not criminal, nor is it illegal in any way. But there is a definite crush on the silver producers with shaky balance sheets. GORO and SVM come to mind, but thrown in to the mix is GPL.
The silver companies come under fire when the silver price is down. In some cases, the earnings are overstated, or the grade, or the metallurgy. It will all come out in the end. This reminds me of Timminco.
I’m thinking that the facts don’t really matter and that the shorts will make their money in a stock market decline.
@railroad tycoon
Right, but anyone who doesn’t know what a Amish buggy looks like and knows is drawn by a horse, is an idiot. These cops are idiots and slaves to those corporate interests, who don’t like anyone who opts out of the oil/ automobile dominated paradigm.
To my bread&circusville point, Drudge linked to some wonderful culture art today that shines some light, http://www.youtube.com/watch?v=o64Fz-KW1Dk
@Al Kyder
Interesting yes but without money you have no monsy system at all. Nevertheless alternative ways of trade are highly welcome in this collapsing economy and this currency war way to the bottom. Tensions are running high and somtin’s gotto give!!!
@Max,
see if Roseanne wants to go on your show Max,
could be a little bit of anarchy.
@ railroad tycoon
I learned not to run into things in drivers education back in high school (1965-1969).
How did our automobile transportation system survive without red triangles on everything that might be run into?
http://www.youtube.com/watch?v=rEX1dYyvmig
Play it again Sam!
Push a banker out the window theme song.
What a fantastic interview!! Always appreciative of Max letting his guests have their say in such a compressed time slot while maintaining control.
One thing I’m pretty sure about … the Big One will come AFTER Europe closes …. trapping all the Longs there.
Everything is consider “fair” in times of (currency) war.
@Norm Herbert …Yep .. he gets better with old age !
Maybe he’s practicing for a MSM takeover soon … hope so.
Nice interview with Bill Still. He made quite a few good points.
Mr. Still seems to think that usury is necessary but it actually isn’t. Usury is the rent paid to a 3rd party for renting their money supply. But if everyone can create their own private money supplies it is evident that no one must rent someone else’s money supply.
Mr. Still also mentioned gold and silver as potential complimentary money supplies. That should certainly be legal but I don’t think PMs as money would be very successful if common stock, a much more sophisticated and ethical private money form, was allowed to compete on a level playing field.
I’m sure @F.Beard will love this interview, too! Stacy Herbert
Indeed I did. Max was respectful and kind. I can see why you love the man.
What is desirable in a man is his kindness, and it is better to be a poor man than a liar. Proverbs 19:22
Naked short selling seems to be the mirror twin of fractional reserve banking. The first is used to unjustly drive down prices and the second is used to unjustly drive up prices. However, naked short selling is at a disadvantage since there is no stock lender of last resort while the banks can rely on the Fed.
Solution to both naked short selling and fractional reserve lending? First, all government privilege for them should be abolished and second failure to deliver and insolvency, respectively, should be severely punished. Or they could be outright banned.
Look MOM! No Money, NO Gold! No monetary contraints … we once again blew the doors off the myth! The next time someone accuses you of ‘wasting time’ by sitting and playing games all day, refer them to the players of Foldit, http://www.endofshow.com/2011/09/19/hiv-breakthrough-made-by-online-gamers/
Environment determines outcomes.today’s technology has allowed these people to step outside your beloved, economic religion and actually do that which is well within our limitations; solve problems!
Environment determines outcomes … You cannot solve world wide problems within your beloved econmic misinformation machine environment… What; we need another century of more of the same, to make the point? We dismissed the economic concept of a “Kingdom” yet left the misinformation religion in tact; it stares usdown from across the casino table.
Separated from nature and reliable information ….Spiders in a steep, walled tub.
Max,
I think you said “Sepulcher” instead of Seppukku. Obviously, seppuku comes first, but can qualify you for a sepulcher.
ps. Did you see this ZH story on HFT breaking the speed of light?
http://www.zerohedge.com/news/its-official-hft-breaks-speed-light-barrier-sets-trading-speed-world-record
Time to break out the old video of Max & Stacy (w/ clouds in the back I think) where Max quotes the speed of light as the ultimate financial limit….
@F Beard:
The side of a hill is called a Bank. I create my own money supply. I have a rich Silver claim. My money is in the “Bank.”
The Amish: far ahead of their time: you will see!
The side of a hill is called a Bank. I create my own money supply. I have a rich Silver claim. Ame-Rican
Sure. Why not? But don’t expect the government to recognize your private money UNLESS it recognizes ALL OTHER private money supplies EQUALLY. But since recognizing all other private money supplies equally is impossible then it follows that government must recognize ONLY its own fiat. However, that fiat should only be legal tender for government debts, not private ones.
Hats off to Max and Stacy for having Bill on – especially now. This CA legislation is a pretty big deal and Jerry seems to be one of the only CA Governors open minded enough to consider it. I’m not a facebook person but if I were I would try to popularize the campaign there… My call to the Governor’s took all of 3 minutes. Any help is appreciated.
Thanks! -keith
http://www.youtube.com/user/BaitAndSwitchTV#p/u/0/_M_Rh_fgKEQ
Thankyou waronerror for showing me this site.
@F: the best government is the government that governs least. Stay out of my bedroom and stay out of my sock drawer.
P.S. the federal reserve is not a government agency
My vote is for Stacy to wear lingerie!
Bill just wants to hide national debt by using creative accounting. Hide Govt debt in revenue
This is not in line with international accounting standards. I
So he is just wasting his time due to ignorance about double entry bookkeeping
Although he is on the button with his comments about gold
But his ignorance about fractional reserve banking (it has already been eliminated FFS) and Govt debt (it can not be eliminated) is painful to listen to
Its a shame as I think his intention is good but he knows nothing about banking and money as it operates today.
http://www.youtube.com/watch?v=Gwrm8UK1VIk
Sorry, it’s just such a catchy tune!!!
@ BB Rebozo
Great link thanks. I like this quote in particular…
“To most in Washington, America is a joke, a bankrupt “has been” nation drowning in debt with a military now useless, spread across the globe running errands for a cabal of international bankers.”
@ F. Beard
“And what will explain to you what the steep path is? It is the freeing of a (slave) from bondage; or the giving of food in a day of famine to an orphan relative, or to a needy in distress. Then will he be of those who believe, enjoin fortitude and encourage kindness and compassion.”
The Holy Qur’an Chapter 90, Verses 12-17
http://www.youtube.com/watch?v=Gwrm8UK1VIk
Sorry, it’s just such a catchy tune!
Could you get Ron Paul and Bill to discuss these issues on air please?
I know RP is open to ideas ref the gold standard.
Credit (money) can only be generated from debt
THERE IS NOT WAY AROUND THIS
Either Govt debt or non Govt debt
And fractional banking has been dropped and was ignored by banks for years. Bnaks loan and if required get reserves AFTER the event if required
and Govt deficits create bank reserves
Govts can pay zero percent on these reserves if they wish
So Govt debt can attract zero interest if they wish.
Bill is speaking garbage
@Max & Stacy.
I am all for a full money standard in national banking but you should have asked how Bill would settle foregin trade ?
Its a weakness of Greenbackers I fear.
Maybe a longer interview on press TV would be better.
Bnaks loan and if required get reserves AFTER the event if required RJ
True but the banks know they can get reserves if required since we have a morally bogus “lender of last resort”, the Fed. If the Fed did not exist then banks would have to maintain substantial reserves.
More CIA/DOD – Hollywood connections: Part of the the most expensive and sophisticated propaganda model in history.
http://www.wired.com/dangerroom/2011/09/cia-pitches-hollywood/
@ JonnyJames
It’s not just heroin the CIA pushes on the population to keep them too high to fight back.
http://www.youtube.com/watch?v=sgOWTM5R2DA
F Beard
So can be then agree that Bill is completely and utterly ignorant about fractional reserve banking then
Fractional banking restricts bank lending based on base money. it is now based on capital so the fractional restriction no longer apply
How can Bill not know this FFS . And why did Max not haul Bill up on this basic error.
@ beard:
Shouldn’t money be based of VALUE?
it is now based on capital so the fractional restriction no longer apply RJ
It is still essentially counterfeiting whether the ability to create so-called “credit” is based on reserves or capital. Why should banks be able to lend 20 times their capital (assuming a 5% capital requirement)?
F. Beard | September 20, 2011 at 7:54 pm |
it is now based on capital so the fractional restriction no longer apply RJ
But you do agree that Bill is wrong. And he is also wrong about debt
Debt free money is impossible as debt always = credit
Shouldn’t money be based of VALUE? Ame-Rican
Sure. It must have some value or people would not accept it. The value of fiat is that taxes are required in it. The value of common stock is the unencumbered assets of the corporation.
Ame-Rican | September 20, 2011 at 7:52 pm |
@ beard:
Shouldn’t money be based of VALUE?
It si. Money = debt = credit
When ever parties trade an equal amount of money is transferred to reflect thsi trade of real goods services or assets. Credit or money is transferred from the seller to buyer at the price agreed by the two parties
Money is what society deems it to be. Money is not a law of physics, it is a human construct. If people view gold as money in India, China and elsewhere, then it is money.
Debt free money is impossible as debt always = credit RJ
A money can have value apart from debt such as its traditional use as money and its known scarcity.
But even assuming that money is always debt, no 3rd party debt is needed. Thus the Federal Government should simply create, spend and tax its own fiat. As for the private sector, if genuine private monies were allowed, the banks might have difficulty getting anyone to borrow what limited credit the banks would be able to create.
JonnyJames | September 20, 2011 at 8:03 pm |
Money is what society deems it to be. Money is not a law of physics, it is a human construct. If people view gold as money in India, China and elsewhere, then it is money.
Money is always supported by an equal debit
Gold si an asset. When gold si transferred from a seller to a buyer then an equal vaue of credit (money) is also transferred.
So the seller loses gold by gain bank credit
Money = credit
And credit always = debt
There is no way around this despite what Bill and other so called money reformers claim
Tell that to the Billions poeple who disagree with you, they view gold not as a mere asset or commodity, they view it as money. Have you ever been to India or Thailand? This sounds like narrow-minded enthnocentric theoretical clap-trap to me.
“There is no way around this” Show me that law in a physical science book.
My subscriptions page on my YouTube channel stopped working at the weekend, and no matter what I’ve done since, I can’t get it to work again. Is this affecting anyone else? Has anyone found a workaround, short of creating a new account?
Any Economics graduates in the room?
How is Hogwarts these days?
RJ, you’re not saying anything different than what Bill said in this interview. Still states emphatically that he doesn’t agree with Ron Paul that gold and silver are the only form of money according to the Constitution.
Eliminating government borrowing and fractional reserve banking, as he stated, is nothing new, he didn’t invent it, and it is a great idea.
You said “Money is what society deems it to be” Exactly, so money can be anything. Why shouldn’t it be something based on intelligence and fairness?
On the other hand, we can all debate about the Theory of Money till the cows come home. If we don’t have public accountability from the entrenched oligarchy/plutarchy who hold power and dictate policy, we are just spinning our wheels. Folks like Dr. Paul Craig Roberts, Gerald Celente, Max Keiser, Stacy Herbert, Dr. Michael Hudson and many others, have pointed out how corrupt the entiresocial/political/financial/economic/legal systems and structures have become. Until this is fixed, NOTHING good will come, things will continue to worsen and the entire fabric of society will continue to decay. The Empire will destroy itself, just like all empires have.
Two good books to read on this
“Superimperialism” Michael Hudson
“The Rise and Fall of the Great Powers” Paul Kennedy
JonnyJames | September 20, 2011 at 8:15 pm |
Tell that to the Billions poeple who disagree with you, they view gold not as a mere asset or commodity, they view it as money
Its an asset. It is not money and never has been. And one asset can be exchanged for another one (or goods and services)
Money (credit0 does not have to be involved. Say food for a days labour etc
The Swiss might have an early winter … record September snowfall.
Mother nature must be ticked at the peg … hahhah!
http://www.terradaily.com/reports/Record_snowfall_in_Switzerland_45_cm_in_St_Moritz_999.html
“Eliminating government borrowing and fractional reserve banking, as he stated, is nothing new, he didn’t invent it, and it is a great idea.”
You can NOT eliminate debt if Govts run deficits ( unless creative accounting is used) .
Fractional reserve banking has already been dropped
Bill is right on gold but wrong on these two points. He needs to
Understand double entry bookkeeping and
Move into the 21st century re fractional banking
Another Great Show Max/Stacy/Bill!
Note to Amish, cyclist, walkers, farmers & ranchers:
Put that Phk’in Orange Triangle on all slow moving objects that get around traffic, because Some of us Can’t See You Soon Enough!
Yes, it’s a Conspiracy!!! A Conspiracy by the rest of us to Avoid Running You Over.
Jeeeze……………….. LOL;)
And remind Bill that buying Silver, Gold & the SLA/GLA is using that 30/1, 100/1 & 350/1 leverage Against the Financial Terrorist
@RJ
How do you propose to fix this mess then?
When I go in to my mine and break out the ore, I have to haul it down, crush it more, refine it with chemistry 101, purify it, weigh it, yes and guard it.
I have put myself in to it and have worked and used education on it.
It is something of value now and not just some rock. It is small and can be handled and transfered. It is recognized in every country on the globe. I can make it small as a penny or large as well, $40. If I stored it and got a fancy reciept (early dollars) I could trade it to you directly.
But would I lend or borrow? Lending Money only works if you make sure:
THAT EVERYONE YOU KNOW IS BROKE!!!!!!!!!!!!!!!!!!!!!!!!
RJ
You CAN eliminate government debt. That is his point, and it is a historical fact. I think that point went over your head. Watch the video again where he brings this up. He states “I didn’t invent this”… etc
You also added in your statement with “if Govts run deficits “, a good caveat, because that is the friggin’ point, the government should not be mandated to run deficits. They just use the money to build bombs anyway.
just got this from ebay!!!!!!!!!!!
first they go from 20 to 100 dollars for sales of gold and things above a thousand!!
now no ebucks back from ebay .FOR GOLD!!!!!!
HA HA ITS STILL GOLD AND WILL PROABLY PUSH UP THE PRICE
DONALD TRUMP WILL TAKE MY GOLD !!!!!!!!!!!!!!
eBay Bucks Update
As always, eBay is committed to bringing you amazing deals on gold and silver. However, to do so, we can no longer offer eBay Bucks for purchases from the Bullion category within Coins & Paper Money. This change will take effect October 1, 2011. To learn more about earning and redeeming eBay Bucks, visit the Frequently Asked Questions page. And remember that you can always tell whether an item qualifies for eBay Bucks by looking for the earn amount below the price on the item description page.
To review the updated eBay Bucks Terms & Conditions, please visit http://pages.ebay.com/rewards/terms.html.
We appreciate your eBay Bucks membership and hope you’ll continue to enjoy the benefits provided by the eBay Bullion Center, including great savings and fast, free shipping from Featured Sellers—and eBay Buyer Protection for your purchases.
Sincerely,
The eBay Bucks team
Sincerely,
The eBay Fucks team
@ karate kid
Interesting. I’ve done a lot of bullion buying from eBay in the past few years but no selling. This was a logical step. They must foresee a huge increase in the POG. This is bullish.
As far as doing PM business on eBay, most of the posts I see on the various forums seem to indicate that people are not having great experiences anyway, so they stay away from eBay, and use other options, local dealers, coin shows, craigslist, etc.
Money gets created / printed by Government
gets spent into the economy
gets collected through indirect taxation (citizens) direct taxation (corporations)
money flow / supply can be balanced / regulated
where’s the debt ?
Where’s part 2 of this interview?;)
Apocalypto | September 20, 2011 at 8:42 pm |
RJ
You CAN eliminate government debt. That is his point, and it is a historical fact. I think that point went over your head. Watch the video again where he brings this up. He states “I didn’t invent this”… etc
Ok give me the actual actions required AND THE DOUBLE ENTRY ACCOUNTING ENTRIES to support these steps
When you do these you will very quickly see that you can not
CREDIT = DEBT
There is no way around this.
Debt free money is based on creative accounting that does not comply with international accounting standards
Do the journal entries yourself. Its not difficult. Debt fre emoeny supportewrs live ina make pretend dream world
@RJ
Please answer my question
Ditto | September 20, 2011 at 8:56 pm |
Money gets created / printed by Government
gets spent into the economy
And the JE is
Debit Treasury Expenditure
Credit Liability Govt debt
If yiou want facts rather than fiction on money and banking
Read the articles from this site
http://moslereconomics.com/mandatory-readings/
Especially article 1 and 7
@jonnyjames … thank you JJ, I was temped to pounce all over your logic when you came through on your own high functioning critical thought. I’m always amazed at how much I learn from this site and other … then the process of putting your thoughts out there … sometimes comes to the rescue.
I cannot understand, how a government owned by the system, is going to intervene with banking owned by the system? Are we all in some animated trance? A s said before, a basic difference between now and all other points in history, is that we are far too technologically adept to be ethical. Do The world’s resources properly belong to all the inhabitants? Yes or NO? … waiting for the “Ya, buts”
@RJ
So what?
How can use this to fix the mess?
@@ karate kid
I can see this becomeing a problem more and more as the joe six pack wakes up.
I think theres going to more of a problem trying to understand whats fake and whats real.
You might soon have to bring the acid tester with you.
@Evolutis
“I cannot understand, how a government owned by the system, is going to intervene with banking owned by the system?” – Evolutis
Thank you, exactly. Seeing the forest for the trees. It seems folks like RJ are glued to the microscope for too long and miss seeing the rest.
JonnyJames | September 20, 2011 at 9:04 pm |
@RJ
So what?
How can use this to fix the mess?
Easy
For Euro countries
Use ECB credit to fund Govt deficits as required
At present we are
Short of bank credit
And have too much non Govt debt
The ONLY way to solve this is
Run large Govt deficits
Fund with central bank credit
Drain excess credit if required with Govt bonds
Also read this article
http://rodgermmitchell.wordpress.com/2010/08/13/monetarily-sovereign-the-key-to-understanding-economics/
The solution is simple. But confusion (including people like Bill still) is stopping it being implemented
( hands RJ the reset button on the economy) Good luck ~
Holy shit the Money Masters guy! Yeeeeeeeeeeeeeeahhh rock on!
@RJ
Oh, so the public funds the fradulent private banks, OK then I see where you are coming from. No worries Merkozy is working on it for you, despite the ECB going beyond its mandate. A new treaty will be needed to provide legal cover.
The ONLY way to solve this is RJ
Nope. We could also ban any further so-called “credit” creation and bailout the entire population equally with the bailout checks metered to just replace existing credit as it was paid off.
RJ’s prescritpion makes a few invalid assumptions:
The banking system is solvent, honest and free of instituional corruption.
The political structures are independant, honest and free of corruption.
Sorry old boy, get out of your ivory tower and look around
JonnyJames | September 20, 2011 at 9:10 pm |
Thank you, exactly. Seeing the forest for the trees. It seems folks like RJ are glued to the microscope for too long and miss seeing the rest.
No you are. Read the article above. MMT understand the moeny and banking system
Bill does not (not even close). I was fooled initially. Until I used some common sense and did more reading.
Ellen Brown is good but MMT has it sussed
@RJ
Are you really that uninformed? Your underlying assumptions are blatantly false. You build a theoretical framework on quicksand.
“Debts that cannot be repaid will not be repaid”
Sound familiar?
JonnyJames | September 20, 2011 at 9:18 pm |
@RJ
Oh, so the public funds the fradulent private banks,
Read the articles. Or hold on to you flawed beliefs.
Its up to you
@RJ
So you don’t deny that your underlying assumptions are invalid?
Not a very strong defense of your position.
@maxkeiser – great interview, very good episode today, I really enjoyed it – THANKS
@stacy – genuinely loved the headline part today
##
I assume only United States have the privilege of printing US Dollar, that means that the English, Japanese, Swiss and the European Central Bank have to exchange they’re own printed currency for the US Dollar, which further means that the US have to match the same amount of money printing as all four central banks together in order to make the cash flow needed for those three auctions to the banks later this year. If that is correct then QE3 must be huge, so much new Dollars in circulation (if they ever escape the closed banking circle) that surely must devalue the US Dollar for the lay persons, but what effect will it have upon the other four currencies?
Thank you Max for interviewing Bill Still!!! His documentary The Secret of OZ is a great historical work! Thank you!
ebay!!
2 YEARS AGO WHEN I STARTED BUYING ON EBAY
YOU GOT CRUMBS MONEY BACK
BING GAVE YOU MONEY THEN EBAY
then points on your credit card!
i remmeber buying gold 70 dollars below spot!
950 a ounce
no deals and it still goes higher
i want to open my own site to compete with ebay
called gold bay hahahahahhahaha
There are quite a few sites opening up to handle bullion sales. John (stellaconcepts) has one called “spotmex” http://www.spotmex.com/
John’s YT channel
http://www.youtube.com/user/stellaconcepts
Haha, love the jubilant money shower at the start.
Bless.
Max said some of the bankers were found hanging in the closet after the crash in 1987. This certainly brings new meaning to the phrase “skeletons in the closet”.
Bill Still is a passionate monetary reformer who understands that the power to issue money is the real power in society. and is the power to which even governments must submit. He also is acutely aware of the fraudulent nature of fractional-reserve lending, the deleterious practice of which was well understood and legislated against in the days of the Roman Republic.
There are so many people with ideas about how to proceed. F Beard wants money backed up by stocks. RJ can’t foresee money that is not associated with credit creation. Ron Paul and the Austrians think money is only what arose naturally throughout history as the most marketable commodity—gold and silver. Bill Stilwell and Helen Brown want government to issue debt-free money.
Honestly, any of these solutions is probably an improvement over what we have now. Repealing the legal tender mandate and allowing free currencies to compete is probably the only just way to proceed at this point, but TPTB are still solidly in control and will not willingly give up their privilege, and there will always be politicians who will serve them, knowingly or cluelessly.
I hope it works out for the division of labor and the maintenance of trade worldwide. I don’t have the energy at my age to go back to digging for roots.
F Beard wants money backed up by stocks. acudoc
Not quite. The money would be common stock.
Max and Stacey – thanks for interviewing Bill Still.
Now what about interviewing Roger Hayes of the Lawful Bank (http://lawfulbank.com/) and his TAMS solution?
I´m glad you interviewed Bill Still. It was his films that made me aware of the real power of money.
You changed the rythm today, Max-Stacy became Stacy-Max. I liked it.
Well. OK.
Previously many of us, who had only seen this ‘Bill Still’ guy on a grainy internet video -that – contrary to mainstream believes -made sense
(Bill…I’m still having a few problems with ‘free fall collapse speed’… aren’t we all ?)
belief’s * (whatever)
(I’m willing to go with that)
Bill Still ? You’re an American Hero.
Never – ever forget that.
I watched your docs, ‘The Money Masters’ etc – with a sense of awe. (Let’s face it kids – it’s not all really – “As Seen on TV’)
I agree with bill.
However things are so corrupt, we will need gold silver to get through this next collapse. Even Mike Maloney hates Gold standards. See YouTube “Mike + Maloney + Gold standards + suck”
Honest government is what we need. I agree with Bill in that. The problem I have is that there has never been an honest governenent ever in human history….?
wasnt this guy the head of the Tyrell corp in Blade Runner
Observer.
No…And by the way.
In case someone should ask. You know….that type of thing…
Inside job ?
http://www.ae911truth.org/
The Constitution is clear that Congress has the power to coin money and borrow money.
Max & Stacy:
As a big fan of both Bill Still and Ron Paul, I believe it is important to clarify Dr. Paul’s position on the matter of gold & silver:
If Congress had the power to create money, then why would they need the ability to coin or borrow? Further, states are only allowed to settle debts in gold and silver coin. As Bill Still eluded, we can point to decisions from our Supreme Court as they relate to ‘legal tender’ being whatever we like, but this is the same Supreme Court that ruled corporations are people, even though we’ve never seen a corporation executed in Texas.
http://www.dailypaul.com/42549/where-in-the-constitution-does-it-say-only-gold-and-silver-shall-be-legal-tender
Thank you for all of your dedication to liberty and hard money of all kinds.
Best regards,
Brooke
Bill Still is a terrific force for good.
But I think he’s wrong in what he says about Ron Paul’s contention that only gold and silver are officially money under the Constitution. Still cites subsequent supreme court rulings which say that that’s wrong. Now, in one sense, Still is correct. at this moment, that’s the official law of the land. But, like many existing supreme court rulings, those rulings are complete bullshit issued so that the powers that be could fuck with all of is in unconstitutional ways. In theory, Ron Paul is right. At this time, in practice, Bill Still is right.
Still and Brown want government printed money. When this debt based system fails, this is what the political class will push. Then, hang on to your hats, because if you think the debt based money system created a humongous amount of money, just wait till the US Treasury creates even more than the Fed does. This is when the feared hyper-inflation will hit the fan; when the masses finally loose faith in any fiat money system and the “demand” for money turns into a “run” from fiat money. This hyper-inflation has little to do with the amount of “printed” currency bills, but is centered on the failing faith in the public regarding any government fiat money. This is when the real money of history will gain the upper hand, but only in the “black market”. In the “official markets” the coercion of the government will force use of its fiat money and the number and quality of goods available will resemble the former Soviet Union. This coercion could last as long as the Soviet system did. Are you ready to spend eighty years in struggle against the “powers”? Of course this discounts any “civil war(s)” that break out as a result of the battle for gaining the upper hand among the numerous power factions. Imagine the inside fighting between various government agencies plus the quarrels among the super national corporations plus the various financial dynasties stabbing each other in the back, plus the military machines grinding on each other; have you got the picture yet?
Do you think that the average Joe Six Pack is going to be able to mentally grasp what is actually going on? I have “seen the future” and it is BLACK!!
Thank you Bill Still!!! Watching the Money Masters many years ago was my first eye opener on where the true hub of power lies in this debt based fiat world!
The dollar is NOT TRAPPED it can still be used for wallpaper or say burning it to stay warm this winter. History always repeats it self folks , just do an over lap of Weimar Republic hyperinflation and their printing of fiat and Benny boys printing job of fiat paper that he calls money.
Hyperinflation is well on its way. Are you going to be the 1% smart enough to buy silver or the 99% who will starve?
Sleep Well
Most folk notice the high inflation today. especially food and energy prices. Average inflation tends to be close to 7%. if we don’t count things like our laptop compters, that in 1971 we would have needed to spend a few hundred million bucks to match the performance of a cheap notebook today. Gigabytes of RAM did not come cheap back then! 7% over 40 years is four price doubling periods. We can see that most things like food, gasoline, energy, houses and cars do indeed cost 16 times as much. Fiat currencies always collapse eventually. The patient is currently running a high fever, sweating, with an look of impending death. The local undertaker keeps rubbing his hands together in anticipation, and the Doctor wants to keep the patient alive long enough to collect his fee! When inflation goes over 10% a feedback mechanism makes it worse. The “Phoenix” moment. A new currency will replace the old. BTW, Britain’s Crimean War Debt (1853-56) is claimed to be responsible for all this mess we are in, or so I learnt from a very senior banker. The debt is still on the books! and is still mounting interest, in gold! and the problem is that we have not yet mined enough gold to pay the interest!…. Surrealist Banking!
Michael Hudson on The Renegade Economist – interesting take on Russia:
http://michael-hudson.com/wp-content/uploads/audio/Renegade_Economists_Hudson_post%20Russia.mp3
As the financial system stands today. The fed can print up any amount of money to give to thier friends. And that money is indebted to the american people the way its set up.
Its set up that way. Because the goldman sachs and jp morgan chase people run the usa gubberment. Sweet deal. I think they call it stealing. But legal. Because the folks that make the laws set it up.
Another good one. Thanks Max and Stacy.
Thank you Max and Stacy for putting my Twitter question to Bill about state banks! Great news about California. I am psyched about helping legislation here in WA State. Whole interview excellent per usual!
Sincerely,
CThaxter
Twitter
War is ugly. I don’t like myself at war.
Jon Nadler lol. It’s rather strange that a company that earns money by providing a market for PMs would hire someone to tell you you’re a paranoid, tinfoil hat-wearing, idiot if you have more than 10% of your portfolio in PMs. As if 10% isn’t a completely arbitrary portion, and economic situations are so linear or static that the same answer will always be best.
Clothing? I wear a jacket I bought 10 years ago for $30. I’d rather clothing didn’t matter. I know it does. Perception matters. Even if its the perception of a shallow idiot. But I choose to act as though it doesn’t most of the time, and take my chances. Idiots can threaten and try to hurt me in the real world but they’re not going to get me to do it for them. Except to be fair, they have held me back from getting that gumball-painted scooter that blows bubbles at the push of a button. No wait. It was the number of ounces I’d have to give up. But some day.
Good interview Max, and Stacy was excellent again. I love they way you guys energise each other. Very cool.
Bill Still makes some good points, but we are still relying on honest government.
Fail!
It has gotten to the stage where the people/investors are taking matters into their own hands to by-pass the Govt and Banking system, hence the seeming popularity of the precious metals.
This is the whole point Billy Boy.
No trust = Fear = Gold.
End of story.
Martin Armstrong also says a Gold Standard is not a great idea.
I think it is a good idea for a way to clean out the old/current system as a transformation towards a new system.
But by the ads I have seen on TV for bumping mobile phones together for financial transactions, at this stage I can only see a technological system being put in place. No idea how, as this is the opitamy of ‘No Trust’ as far as I can see, which is getting less and less each year
http://www.youtube.com/watch?v=VCEmTaWSPTk
I am wondering if Max will have a post about the EBT- food swipe card that JP Morgan profits from—– http://www.youtube.com/watch?v=o64Fz-KW1Dk
What the heck is going on in America- is this all we are looking forward to here?!
French Banks Resume Tumble After ECB Announces One Bank Taps Dollar Swap Line For $500 MM Again
There has been no improvement in interbank liquidity conditions since August 17.
Expect more weakness out of French banks especially if China steps up the war of rhetoric and announces that more (of its own massively levered) banks have cut liquidity connections with France.
China Bank Halts Forex Swaps wWith European Banks Including Societe Generale SA, BNP Paribas SA and UBS AG!
This has probably been posted… anyway:
SR 27 Bank of California Bill Still
http://www.youtube.com/watch?v=cqsAIPl0Nio
Bill Still’s YT page with some interesting vids usually worth looking at:
http://www.youtube.com/user/bstill3
Max And Stacey,
Thanks for another great show.
What is your current view on the strengthening of the dollar and precious metal weakness?
Love and Peace
Max, take a look at this:
http://www.ellasneverdie.org/
Since I have no time to translate, please use google translate…
Does anyone remember Hr. Pohl , the Bundesbank Director that resigned in 1991 ?
Basically he disagreed with the German Chancellor Kohl about entering the EURO.
I read the book ( below ) on why he resigned in 1992 … and it was basically a Central Banker explaining why FIAT money is dangerous , especially if the Central Bank becomes a politician’s toy.
On the preface page of the book , it states – all on it’s own in the middle of the page :
… which translated , means :
On page 21 , the question is asked :
Amazing …. the “value” given to the most important books :
.
.
.
.
.
The Trend is becoming Mainstream …. finally :
Start date : 4th. October
Australia opens new physical gold market “outside the financial system”
Translation:
http://translate.google.com/translate?sl=de&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http://www.goldreporter.de/australien-eroffnet-neuen-physischen-goldmarkt/gold/14443/
Original :
http://www.goldreporter.de/australien-eroffnet-neuen-physischen-goldmarkt/gold/14443/
Vaults filling up
http://www.bloomberg.com/news/2011-09-21/bullion-vaults-running-out-of-space-as-gold-rally-accelerates-commodities.html
http://goo.gl/45G7U
NEW LAW IN FRANCE !!! ? (July 29th 2011)
about restricting purchase of PM´s to 450 Euros, beginning September 1st 2011:
http://www.legifrance.gouv.fr/affichCodeArticle.do?idArticle=LEGIARTI000020861826&cidTexte=LEGITEXT000006072026
this was posted by a french reader on a german PM`s site!
I don´t speak french, can anyone please clarify if that is true?
If so, that would be worth putting on your page M+S !!!
… if true THIS is really of interest for your readers!
I suppose the guy from commodity.online, who recently put out the false information about alleged restrictions in Austria, must have passed away immediately after … so he couldn´t catch this!!!!
other interesting laws from this July-meeting:
http://www.legifrance.gouv.fr/affichTexte.do;jsessionid=?cidTexte=JORFTEXT000024287129&dateTexte&oldAction=rechJO&categorieLien=id
http://www.senat.fr/petite-loi-ameli/2010-2011/758.html
http://www.service-public.fr/actualites/002003.html
http://www.senat.fr/rap/l10-432/l10-4323.html
http://www.latribune.fr/actualites/20110711trib000635468/une-carte-d-identite-biometrique-tres-controversee.html
signed, while the French were on vacation!
can anyone comment please ?
Love V.
@Vonda Bra …. Goolge Xlate
http://translate.googleusercontent.com/translate_c?hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=fr&tl=en&u=http://www.legifrance.gouv.fr/affichCodeArticle.do%3FidArticle%3DLEGIARTI000020861826%26cidTexte%3DLEGITEXT000006072026&usg=ALkJrhhzSNbOAM82jiuOAkq6qCAb4bh7Vw
Sounds like a limit of 450 Euros for “non ferrous” ( i.e. Gold ) and must be paid from a Bank account.
Maybe @Stacy’s French is able to translate ?
The Netherlands: House Prices Declined 2.8% in August from August 2010. (In May 1.8%, June 1.9% and July 2.3% y-o-y) Source: CBS (Central Bureau of Statistics)
Mind you, that the Netherlands has no huge stack of empty houses and no massive amount of foreclosures going on like in the U.S., has the lowest unemployment rate of Europe, has plenty of wonnabee house buyers but still; house prices go lower.
Europe ane the Netherlands are not gonna make it only with firm austerity measurements
@Youri … loved the translation
” Intellectual deficiency ”
Does the Dutch original really say that ?
@MM
the Australian Bullion Exchange site ( dont know much about it)
http://www.abx.com.au
@snoop .. Thx ( AU Exchange )
France says aid impasse could spark EU food crisis
* Germany, others oppose 500 mln euro EU food aid scheme
* France says 17 million Europeans rely on EU food aid
* EU leaders may intervene to break stalemate
@MirrorMirror
Yep, it says ‘Intellectueel tekort’ in the Dutch sub-headline. One could say that it was intellectually starved decision making by the Rutte cabinet. Lacking any intelectual substance thus intellectual deficient
@MirrorMirror
After ‘intellectual deficienty’, ‘not sufficiently serious’
German Finance Minister Wolfgang Schäuble: “Italy’s political system no longer deemed as sufficiently serious”
The World from Berlin: ‘Italy’s Chief Problem Is Its Own Government’ (Der Spiegel)
lawsuit against JP morgan silver manipulation begins.
As discussed previously, all individual lawsuits against JP Morgan have been compiled into a single CLASS ACTION lawsuit filed in the US District Court of New York against JP Morgan for Silver price manipulation.
We have obtained a copy of the entire suit, which contains groundbreaking information publicly exposing JP Morgan’s alleged manipulation of silver prices for all to clearly read for themselves.
The lawsuit completely exposes JPMorgan’s silver manipulation from insiders’ perspectives for ALL TO SEE.
We’re talking your wife streaking on the field during the opening kick-off of the Super Bowl type of exposure.
We will have more on this HUGE breaking development later this afternoon or this weekend.
For now, please read the complaint in its entirety.
Factual allegations begin with point 30, with
Substantial allegations beginning with point 55 on page 27.
Point 68 discusses JP Morgan’s acquisition of Bear Sterns’ massive short silver position.
Point 93 names Robert Gottlieb as the individual who developed Bear Sterns’ massive short silver position, along with assistance from HSBC silver trader Mike Connolly
Point 118 also names Chris Jordan from JP Morgan selling massive amounts of silver puts at enormous profits
Point 95 details how JP Morgan profited by $150 Million dollars with EACH dollar decline in the price of silver.
Wolfgang Schäuble’s continued austerity plans for Europe ‘very dangerous’ – economists
Hello, This was one of the best interviews so far. Thanks
What’s happening with maxkeiser.com today? It’s not working very well at my end with many time-outs.
maxkeiser.com is a very slow loading site as noticed by many others. Donnow if wordpress as whole is the limiting factor but there are ways to make even multifunctional websites load very fast. But you need smart programmers and designers to make your costum made website toppy top and load as lightening.
Bullion Vaults Run Out of Space on Gold Rally
Europe Banks Have $410B Credit Risk: IMF
EFSF could make Germany liable for €465B ($640B)
@Youri
I have sent M&S tweets asking them to look into fixing the site. Stacy says send Max a message on his twitter account and bug him about it.
Papandreou Malaka!
Papandreou Pushes for Accelerated Cuts to Ensure Next Month’s Aid Package
@JonnyJames
Good thinking.
Max & Stacy must find the bottleneck before these time-outs and slow loading websites at maxkeiser.com are getting even more annoying.
@Youri
Stacy just addressed the issue on the top thread (KR teaser)
Thanks for interviewing Bill Still. Wtf do we do? They are winning?!
Debt Crisis Infects Companies via Surging Cost of Bank Loans: Euro Credit
Japan Exports Climb Less Than Forecast as Slowing World Growth Saps Demand
China Faces Surge in ‘Hot Money’ Inflows on Market Turmoil, PBOC Data Show
Russia Faces Recession for Two Years With $50 Oil, IMF Says
Bill, what do you think of Rep. Dennis Kucinich’s the NEED Act, HR 6550?
http://www.monetary.org/news
How the Economists Facilitated the Crisis and How HR 6550* Solves it
snip
On December 17, 2010, Congressman Dennis Kucinich introduced the National Emergency Employment Defense Act (“NEED,” HR 6550*) which contains all the monetary reform provisions of The American Monetary Act- see the brochure at http://www.monetary.org. It is much more than regulation; it fundamentally reforms our private CREDIT/DEBT system now wrecking our nation and harming all humanity, and replaces it with a government MONEY system.
The Act achieves reform with 3 basic provisions. All three are necessary; doing one or two of them wouldn’t work and could cause more damage.
In brief:
First the Federal Reserve gets incorporated into the U.S. Treasury where all new money is created by our government – what people think happens now.
Second, It ends the fractional reserve system. Banks no longer have the accounting privilege of creating our money supply. All their previously issued credit is converted into U.S. Money through an elegant and gentle accounting change. The banks are held accountable for this conversion and from that point operate the way people think they do now – as intermediaries between depositors and borrowers.
Third, new money is introduced by the government spending it into circulation for infrastructure, starting with the $2.2 trillion the engineers tell us is needed to properly maintain our infrastructure over the next 5 years. Infrastructure will include the necessary human infrastructure of health care and education.
Banks are encouraged to continue lending as profit making companies, but are no longer allowed to create our money supply through their loan making activity.
Thus, The NEED Act nationalizes the money system, not the banking system. Banking is absolutely not a proper function of government, but providing the nation’s money supply is a key function of government. No one else can do it properly. Talk of nationalizing the banking business really acts like a poison pill to block real reform. Same for talk of the states going into the banking business keeping the fractional reserve system in place, and allowing the banks to continue creating what we use for money! That would reform nothing and actually endorses the fractional reserve system! It is a farcical diversion, misleading some good people away from real monetary reform at the only time reform is possible – during a crisis. All serious Monetary reformers understand that banks can not be allowed to create our money supply.
Despite prejudice against government, most people are surprised to learn that history shows government has a far superior record in controlling the money system than private controllers have. And yes that includes the continental currency, the Greenbacks and even the German Hyperinflation; which by the way took place under a completely privatized German central bank, with all governmental influence removed! These facts, though not taught in your econ classes, are discussed at length in my book The Lost Science of Money available here. http://www.monetary.org/
I agree with everything except giving government the ability to print the money. The only difference between government printing and Fed printing is we don’t pay interest on the money. I agree that is a huge bonus. But I don’t want to see Congress given this ability. We would still have deficits because they have no self control, and therefore, the value of the dollar still falls. Without gold or some other commodity backing the money, printing continues until the dollar is valued at zero. Then you’re really screwed, regardless of whether it’s government or the fed.
“All serious Monetary reformers understand that banks can not be allowed to create our money supply. ”
Banks do not really create our money supply
Either.
1 Willing borrowers do when they borrow money from a bank. They do this by taking out a bank loan. In exchange they receive bank credit or money
The banks
Debt Customer loan
Debit Customer deposit (cheque account)
2 Or the Govt when they run a deficit
The bank
Debit Bank reserves
Debit Customer deposit (cheque account)
The accounting entries are done by the bank but they Govts or non Govt customer action is the driver for new money. The banks just record the result of this action.
“I agree with everything except giving government the ability to print the money. ”
DEBT = money = CREDIT
The Govt effectively print new money when they run a deficit
The banks
Debit Bank reserves (this is a bank asset but Govt debt)
Credit Customer Deposit (this si new money)
The bank reserves (a bank asset) is offset by a Govt liability (Govt debt)
@ Mark—I am with you totally, brother. An excellently written post.
This is the exact scenario I foresee when governments take over the money issuing potential. You are either a producer or a thief. The bureaucrats who rise to the top are natural thieves.
Money is an archetype. Honest commercial transactions are an archetype. You don’t fuck with archetypes, it’s like fiddling around with the basic design of the wheel—you can’t improve it!
The division of labor was accelerated when the most marketable commodities—gold and silver—assumed their natural role as a medium of exchange in the large river basin civilizations. We need banks which warehouse gold and silver, and strict laws which prohibit fraudulence in banking. In the age of the internet honest e-transaction banks will preserve the division of labor.
Eric Sprott sells silver again: See Sprott Run!
http://www.nakedcapitalism.com/2011/01/state-banks-or-if-you-cant-regulate-tbtf-banks-why-not-compete-instead.html
joebhed says:
January 25, 2011 at 3:34 pm
Yves,
Great that you’re talking about monetary alternatives – something outside the normal financialist’s scope of discussion.
The best thing that can come of a well-thought out state banking proposal is the education of the state populous regarding things monetary and how the monetary powers are set up, and the potential for state benefits.
The worst thing about any move to direct state banking is IF it removes from the same state population the proper understanding of the need for and potential for federal banking and monetary reform.
Dennis Kucinich’s Bill, H.R. 6550, the National Emergency Employment Defense (NEED) Act of 2010, provides the superior fix to that almost un-fixable of our national financial systems, the private, debt-based money system of money creation using bank-credits and consumer-debts, known as fractional reserve banking.
The Kucinich Bill – available here –
http://kucinich.house.gov/UploadedFiles/NEED_ACT.pdf
puts an end to the entire private fractional reserve banking system, replacing it with one of government-issue of the nation’s circulating media, without issuing any debt.
When its complete, even the state banks will have to switch over to a full-reserve based lending system. But no problem there.
………
http://www.economicstability.org/joes-monetary-literacy-course
Part 1: It’s our monetary system!
by Peter
First some definitions: money and monetary system.
What is money? It is a medium of exchange. It is a way of keeping track of exchanges of goods and services.
What is a monetary system (or money system)? A monetary system is the rules and regulations, agreements if you will, that govern a country’s money supply. How will it be denominated? Who gets to create the money and under what restrictions?
So, who own the monetary system, the US citizens or the banks?
The answer is clear that it is we, the people.
We fought the Revolutionary War for the right to create our own money, and the Constitution specifies it: (Article 1, The Congress shall have power to…coin money, regulate the value thereof,…”)
Why do we bring this up? Because the US Congress gave the money power away in 1913 to the Federal Reserve and private banks. Since then, we have borrowed our money supply from them, and pay it back with interest (what we call the debt-money system). And today we find ourselves in an escalating crisis of debt. These two facts are not unrelated.
If there is any remaining question as to who owns the monetary system, it should be answered by the fact that we the people, we the taxpayers of the United States are the ones who have to foot the bill when the monetary system breaks, which it is doing right now.
snip
The Exit Strategy
Joe talks about the need to transition the money system from its present debt-based form to an equity-based system of government-issue, debt-free money -a move that has enormous potential to create true economic democracy. The concept of the Money System Common emerges from our cooperative ownership of this nation’s money system, as guaranteed by the Constitution.
Yes, there are still brave and just individuals with integrity in America.
http://www.forbiddenknowledgetv.com/videos/911/patriot-act-extreme-prejudice—part-2.html
Why buy gold when platinum is at parity? Probably the only reason why gold is not performing is because everyone is plowing into platinum. Being 35 times rarer than gold and at least twice as hard to mine, that is where the smart money is going. The future of technology will start to hinge upon the intrinsic values within the platinum group metals.
Then we will see a true “monetary” valuation of these metal groups, along with a deeper appreciation of their use towards society.
Peter Schiff on today’s Operation Twist:
Peter Schiff on Operation Twist
Thanks Max and Stacy. I agreed with everthing that Bill Stiles had said until the last statement of funding a study. Sorry I’m always finding fault – but as author Upton Sinclair said: “It is difficult to get a man to understand something when his salary depends on his not understanding it.”
However, I’m so very, very happy that we’ve gone to solution seeking – and it shows with all the wonderful comments today. I’m so glad to read the religious quotes which are on the topic and gave me comfort. Isn’t this why we have religions in the first place? I have also been guilty of not showing kindness, of late. For the people who are worried about the corruption of government corruption – these are a few of my favorites quotes:
“Until the great mass of the people shall be filled with the sense of responsibility for each other’s welfare, social justice can never be attained.”
Helen Keller
“When the people lead, the leaders will follow.” – Gandhi
Great interview!
******** GETTING KILLED!!!
(Nobody?)
The big liquidity crunch?
Silver. Tanking. Can’t. Breathe.
@ David
“Eric Sprott sells silver again: See Sprott Run!”
That’s disturbing and disappointing. I was hoping for more from that guy.
Great Show Max and Stacy…
Thank you for having Bill Still on the show! His films and videos have taught me a great deal over the years. It’s about time he gets the recognition he damn well deserves for his tenacity and continuing message about sound money.
In my book, he has the (Rock) Star status of Ron Paul!
Thank you Bill Still!
As you can see from the brilliant commentary posted here your message is getting through…loud and clear…and then some!
h/t @ all (you rock the financial world!)
Here’s Looking At You, FED
Here’s Looking At You, Kid Scene – Casablanca Movie (1942) – HD
by movieclips
http://www.youtube.com/watch?v=rEWaqUVac3M
Bill Still just plain makes sense.
Debt Saturation=Slavery
The 3 evil “I’s”
Inflation
Income tax
Interest
We need a president with some balls…..such as Lincoln.
Cheers,
Joe
Bill Still is amazing, made his first movie in 1996 and already captured the SDR trend. Understands that gold isn’t the answer, only the beginning of the next cycle.
When you understand the system, you know where it is going…
The dollar may be worth no more than air, but it is the air that blows off the largest gold reserve in the world. Nobody is going to make their currency worth actual gold; tariff city when they do, but they won’t anyway.
Managing the National Money Supply
http://www.jamesrobertson.com/book/managingthenationalmoneysupply.pdf